01-23-2002 Council Workshop Minutes

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MINUTES CITY COUNCIL JANUARY 23, 2002 corner to develop. Hanson indicated that redeveloping both the northeast and southeast corners of the intersection is essential to the success of the greater whole. He also indicated that this area is not a destination location, but is neighborhood oriented. Hanson reported that they would propose to finance the project through HUD. They would also expect that the land would be donated by the City as well as TIF assistance. Jean Eide, Metro Plains, indicated that they are proposing 100% market rate senior housing. Eide explained the financing mechanisms that they are considering. Kirk Velett, architect, explained the proposed site plan in detail He noted that parking along the street side of the project is needed for the retail component. This parking could be screened. Velett pointed out the design of the building noting how it steps out from the corner. He also noted the diagonal pedestrian way from the townhouses that directs pedestrian traffic toward the commercial businesses. Velett reported that the proposed townhouses are designed for senior citizens with most being one story. There are two story townhomes proposed along Little Canada Road to give the area a more urban texture. These townhomes would be attractive to empty nesters. All units have two car garages. Fahey asked about an assisted living building. Velett indicated that they discussed an assisted living component, but felt there was snore of a market for independent seniors. Ha~ison indicated that assisted living would need to be developed by an entity that specialized in that type of housing. Hanson suggested that it may be better to locate an assisted living component in another area other than this corner. Hanson indicated Chat he saw the retail businesses that locate in this area as service providers. There would likely be a coffee shop and a restaurant that would be gathering places for seniors. Hanson noted that with restaurant development parking and space requirements change. Hanson reported that rents for the market rate senior housing are projected at $950 for the one-bedrooms and $1,100 for two-bedrooms. Hanson indicated that they would consider their proposal a class A project. Council thanked Metro Plans for their presentation. SHERMAN George Sherman, Sherman Associates, appeared before the Council to present ASSOCIATES their development proposal. Sherman reviewed the history and experience of his company. He indicated that they specialize in working with cities and neighborhoods. The financing mechanisms they normally use are HUD programs, TIF, and revenue bonds. Sherman reported that he develops and owns his properties.